Ginger prices surge due to low stocks, expected to continue rising

As this is the time of low stock, the price of ginger is high, and it is expected to rise further, according to ginger farmers.


This is the period of low production, mainly focused on preparing for new plants in the ginger growing areas, so the price is good now.


“This is the time when ginger production stops. New plants have not yet been har­vested. So, this is the transi­tional period. The wholesale price varies from K5,500 to K6,800-K7,000 per viss, de­pending on the quality. When there is little stock or supply, the price jumps. When there is a lot of supply, the price drops. Now, the price of ginger has increased by K500 to K 1,000,” said an official at the Aung Pan vegetable broker’s sales centre.


Ginger prices in the post-Thingyan period can only go up, said ginger farmers.


“In our opinion, production cannot decrease during the period after Thingyan. When a new batch with a very high price enters the market, there will be less buying. Now, the supply is low, and the price will continue to rise,” said a farmer.


At the Danyingon re­tail market, a viss of ginger now costs K12,000, up from K6,000-K7,000 before Thingyan.


Ginger farmers suffered heavy losses in the summer of 2022, but with the rising price since early 2023, the number of ginger farmers has increased again.


Myanmar exports gin­ger to China, Thailand, India, Bangladesh, Yemen, Indonesia, Pakistan, Malaysia, Singapore and the United Arab Emirates, according to the data from the Department of Trade. — Thit Taw/ZN